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Reuters
5 days ago
- Business
- Reuters
Antofagasta half-year earnings surge 60% on higher copper demand, prices
LONDON, Aug 14 (Reuters) - Chilean miner Antofagasta (ANTO.L), opens new tab posted a nearly 60% jump in half-year core earnings on Thursday, on higher production and prices its customers paid for energy transition material copper. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the first six months rose to $2.23 billion from $1.39 billion last year, slightly above analysts' consensus expectations. Antofagasta, majority owned by Chile's Luksic family, announced a dividend of 16.6 cents per share, up from an interim dividend of 7.9 cents last year. The company is expanding output of copper, key for the power and construction industries and for green energy transition applications. Some analysts predict copper prices will hit records above $12,000 a metric ton before the end of the decade, up around 20% from current levels, as the EV sector grows and on emerging applications such as AI-powered data centres. Antofagasta bucked the trend of other FTSE100 mining companies which reported lower results, with global trade concerns weighing on prices of most industrial metals this year. CEO Ivan Arriagada said the company expects more than 30% growth in output in the medium term. Shares were flat in early London trading, in line with the wider resources sector. "Antofagasta has produced a remarkably clean set of results," said RBC Capital Markets analysts, noting the company expects capital expenditure to speed up in the second half. The producer estimates 2025 capex at $3.9 billion, up from $2.7 billion in 2024, on works on its Centinela concentrator. Antofagasta operates four copper mines in Chile, and seeks to develop the Twin Metals project in Minnesota, which was stalled after President Joe Biden's administration blocked permits over environmental concerns. Arriagada on July 10 said he saw "an opportunity" to advance Twin Metals, following President Donald Trump's move to impose a 50% import tariff on copper.
Reuters
5 days ago
- Business
- Reuters
Antofagasta posts 60% increase in core earnings in first half
LONDON, Aug 14 (Reuters) - Chilean miner Antofagasta (ANTO.L), opens new tab posted a 60% increase in half-year core earnings on Thursday, on higher production and sales of its copper. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the first six months of the year rose to $2.2 billion from $1.39 billion last year, in line with analysts' consensus expectations.
Yahoo
29-03-2025
- Business
- Yahoo
Antofagasta Full Year 2024 Earnings: EPS Beats Expectations
Revenue: US$6.61b (up 4.6% from FY 2023). Net income: US$829.4m (flat on FY 2023). Profit margin: 13% (in line with FY 2023). EPS: US$0.84 (down from US$0.85 in FY 2023). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Copper Production: 0.277 Mt (0.35 Mt in FY 2023) Proved and probable reserves (ore): 4,377 Mt (3,826 Mt in FY 2023) Number of mines: 4 (4 in FY 2023) Molybdenum Production: 6,720 t (6,890 t in FY 2023) Proved and probable reserves (ore): 3,182 Mt (2,555 Mt in FY 2023) Number of mines: 2 (2 in FY 2023) Gold Production: 126.17 troy koz (142.04 troy koz in FY 2023) Proved and probable reserves (ore): 3,182 Mt (2,555 Mt in FY 2023) Number of mines: 2 (2 in FY 2023) All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 27%. The primary driver behind last 12 months revenue was the Mining - Los Pelambres segment contributing a total revenue of US$3.33b (50% of total revenue). Notably, cost of sales worth US$4.11b amounted to 62% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$789.1m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how ANTO's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in the United Kingdom. Performance of the British Metals and Mining industry. The company's shares are down 4.7% from a week ago. We should say that we've discovered 1 warning sign for Antofagasta that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
